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weedyacres

How do you value a pole barn?

11 years ago

Does anyone have a good rule of thumb for appraising the added value of a large pole barn on a piece of property? The property in question has a 40'x60' steel building on a concrete slab. Back of the envelope says to construct new would be about $12K for the concrete and $25K for the building. But surely appraisals don't give full replacement value.

Comments (9)

  • 11 years ago

    When we had our house appraised they used a comparable from the neighborhood (same floor plan) that had a 30x40 pole barn(with concrete). They valued it at $10K. Cost for us to build the same size was double that.

  • 11 years ago

    In my area they used the tax appraisal when they appraised our house for a re-fi for our metal shop. It isn't a pole type though, but an enclosed on concrete and all open span with a half bath. Our tax appraisal is 50k. It cost 80k to build though. 60x40

  • 11 years ago

    Ask your insurance agent what he'd write the check for if it burned down. Without a rider naming it as an agreed value. Most around here won't value even a very nice outbuilding for more than 10K.

  • 11 years ago

    Thanks. This is a FSBO house Mr. Weedy drove past randomly and fell in love with. 1400 sf non-descript house, huge pole barn, 5 acres. I'm not convinced, but in any case I think they're asking too much, so I need to figure how much a pole barn typically bumps up the value.

    House + land is probably worth 80K. Said pole barn new would cost 12K for concrete and 25K for building. So max appraisal is probably 50-60% of construction costs, based on your responses. That makes 100K max.


  • 11 years ago

    Our prior house had a 2 year old 20 X 20 enclosed metal outbuilding that was very nice as pole barns go - concrete floor, nice entry door and overhead garage door, etc., - my spouse used it as his workshop. It cost about $15k to build (and that was with a lot of his sweat equity) and per the realtors we interviewed it only added a few thousand in actual value. So I agree with your 50% or so of construction costs.


  • 11 years ago

    Here, it might lessen the value of the property equal to the cost of dismantling it.

  • 11 years ago

    Unless the building is "typical" for properties of that acreage or the market area, or the house style (old farmhouse), it may very well detract from the value. Other factors are the materials, age, the location of the building on the lot, access, and a host of other things. But, basically, if your neighbors don't have one you won't get much credit for it.

  • 11 years ago

    we've always built "pole barns" because dh has the sort of hobbies that require that type building we've always been comfortable paying a certain amount more because we needed it living in a very hot humid place, our buildings have always had heat and air and also plumbing we've had four and we've never "lost" money on them nor have we made money because they existed however, all of our homes have sold within a short amount of time of being listed (or before the place was formally listed)
    the question is, what is a pole barn worth to you?